The Settlement Calculator allows your firm to quickly view different outcomes of a settlement as it relates to the client and your firm. To utilize the Settlement Calculator, ensure that Value Code Types are properly set in the Value Codes Mini Directory.
Using the Settlement Calculator, attorneys can negotiate the settlement amount with both the insurance and client and will help determine if going to trial is worth the extra time and money after the initial settlement is received.
NOTE: You must have at least Enabled access to the Value Tab to access the Settlement Calculator.
To access the Settlement Calculator:
Navigate to the Value Tab of the desired Case.
Click the Settlement Calculator button on the top right above the grid.
The Settlement Calculator window will display the current totals for this case and options to estimate the settlement offer and fees. As fields are changed, the estimated totals will simultaneously change.
When predictions are made, the Due and Net values will change accordingly. To reset all values, click the Reset All Values button on the top right. When this button is selected for a saved offer, all fields (values in the Totals and Reductions tabs) will reset to the last saved version of this offer. When this button is clicked for a new/unsaved offer, all fields (values in the Totals and Reductions tabs) will reset to values from the Value Tab.
Predictions for different settlement outcomes can be saved as offers. Refer to Settlement Offers for more details.
To abort any changes and close the Settlement Calculator, click the Close & Discard button.
To save entered values, click the Save button. A new offer will be created using the next sequential number.